New Castle appreciation rates and housing market information

New Castle housing market information

With 4,972 people, 2,260 houses or apartments, and a median cost of homes of $263,500, New Castle real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in New Castle, accounting for 50.66% of the city's housing units. Other types of housing that are prevalent in New Castle include row houses and other attached homes (34.07%), duplexes, homes converted to apartments, or other small apartment buildings (7.92%), and a few large apartment complexes or high rise apartments (6.99%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in New Castle. Owner-occupied housing accounts for 71.59% of New Castle's homes, and 66.86% have either three or four bedrooms, which is average sized relative to America.

The housing in New Castle was primarily built before 1939 (38.09%), making the housing stock in New Castle some of the older overall in America, although there is a range of ages of homes in New Castle. The next most important New Castle housing age is 1940-1969 (30.00%), followed by 1970-1994 (24.87%). There's also some housing in New Castle built between 1995 and later (7.04%).

New Castle home appreciation rates

Appreciation rates for homes in New Castle have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 118.92%, which ranks in the top 20% nationwide. This equates to an annual average New Castle house appreciation rate of 11.89%.

Over the last year, New Castle appreciation rates have trailed the rest of the nation. In the last twelve months, New Castle's appreciation rate has been -0.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Castle were at -0.94%, which equates to an annual appreciation rate of -3.76%.

Relative to Delaware, our data show that New Castle's latest annual appreciation rate is higher than 47% of the other cities and towns in Delaware.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within New Castle differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Castle - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best New Castle real estate investment or home purchase decisions.